One World Trade Center is expected to start welcoming its first tenants by the end of 2013. Condé Nast is famously the largest one to have signed up already (it will be a total of 1.1 million square feet of leased space); roughly 5,000 employees of the company should move into the building by 2013. The tower is supposed to be completed shortly after. The media company is a fantastic addition to the commercial mix of the Financial District which ...

The market keeps showing its good health and more specifically at its two opposite ends: the entry level segment and the luxury segment.
The statistics are clear. According to Miller Samuel appraisal firm, the market share of studios and one bedrooms sold rose from 51% in the third quarter of 2010 to 55% in the third quarter of 2012. At the same time, three (or more) bedrooms sales went up from a share of 13% to 15%.
That means that ...

The Social Network
This month The Real Deal magazine reports on some of the most influential technology entrepreneurs’ NYC pads.
I found interesting how Sean Parker, Napster and Facebook cofounder, once reportedly described his character in the movie The Social Network (played by Justin Timberlake) as a “morally reprehensible human being”. The thing is that his bachelor pad called Bacchus House, bought in 2012 for $20 million and featuring an indoor pool, a private garage and an entire New York ...

Average Manhattan rent tops $3,400
The average Manhattan apartment rented for $3,453 in September 2012, according to the September rental report from Citi Habitats. These days, the market for residential rentals in Manhattan is very strong – and various industry reports indicate that the rental market isn’t slowing down any time soon. In fact, Prudential Douglas Elliman’s monthly report reveals that the average number of days a Manhattan apartment spends on the market year-to-date — 39 per listing — is ...

At $90 million dollars the Woolworth Mansion located at 4 East 80th Street is currently the most expensive townhouse listed in the city. If sold at that price it would be a new record.
The listing was active through most part of last year until early September when it was taken off the market for a brief period. It is now back on the market.
The home rises to seven stories, has 10 bedrooms, 11.5 bathrooms and three kitchens. Other ...

Obama vs. Romney: who is receiving more $ from the NYC real estate industry?
Data from the U.S. Federal Elections Commission shows that Obama, surprisingly, is getting more money than Romney from the city real estate players so far in 2012.
During the first eight months of the year, Obama’s campaign collected 921 donations worth $300,064 from New Yorkers working in real estate. During the same period Romney’s campaign was given 270 contributions worth $239,776.
This scenario is a complete ...